The firm invests in early- and expansion -stage deals, with more than 50 per cent of its transactions involving early-stage companies.

According to a recent report from the McKinsey Global Institute, a new wave of entrepreneurs has emerged in mainland China as access to early financing rounds has improved dramatically.

“Early-stage venture funds grew by a factor of 14 between 2009 and 2014, rising to about US$6 billion,” the institute said.

“Almost 70 per cent of early-stage investment was in internet and information technology-related businesses.”

It said e-commerce giant Alibaba Group, online search provider Baidu and internet powerhouse Tencent Holdings have invested more than US$11 billion in about 100 ventures, “looking for both investment returns and to fill strategic needs of their businesses”.

Prominent investments made by Qiming include current Chinese smartphone market leader

Xiaomi, popular video-sharing, animation and comics site Bilibili, insulin supplier Gan & Lee Pharmaceuticals, female social e-commerce community Mogujie, and Dianping, which recently merged with Meituan to form the mainland’s biggest online-to-offline daily deals provider.

Nisa Leung, Qiming’s managing partner responsible for health care, said the company has invested more than US$600 million in the health care sector over the past seven years.